Montana Bankruptcy Law and 341 Meetings
The meeting of the creditors strikes fear in hearts of many debtors unnecessarily. In practice, trustees perform several different important functions during these meetings. Most importantly, the trustee is responsible for enduring all applicable Montana laws are enforced, and is charged with an unshakable duty of filing objections in the event either a debtor, or their creditors, transgress the law. With the help of an able lawyer, few debtors encounter real problems during these meetings in typical consumer cases. Problem cases usually involve the transfer of significant assets without full disclosure in forms, schedules and pleadings.
The trustee also advises debtors of several important rights and recent changes in the law. Most notably, controversial Chapter 7 bankruptcy law in Montana restrict individuals who qualify, to those people who current earn, during the last 30 days, less than the Montana median state income. This requirement alone prevents far more than half of all people desiring full discharge from filing, because the upper portion of the median scale rarely seeks federal protection through the courts.
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